Market watch

Today most lenders will have rates that are the same as what was posted on Friday. This morning's market is performing well and is up about +22 basis points, giving lenders incentive to offer improved rebate pricing (the cost or credit a lender gives you towards your closing costs when selecting a rate).

Today's MBS (Mortgage Backed Securities) market will likely continue the trend of volatility due to a low volume of trading. This week will be a lot like last week with many traders off for vacation. The longer term trend though is still to see rates creeping up, so be sure to stay in close contact with your Mortgage Loan Professional to monitor today's market in real time.